Despite the auditing delay, S4 Capital delivered better late than never results this morning, with revenue doubling to £686.6m.
Sir Martin Sorrell’s brainchild posted a 44 per cent surge for in 2021 gross profit, and the number of project billings doubled to £1.3bn thanks to “whoppertunities”.
The ad and marketing giant added that operational EBITDA reached £101m, up 62.4 per cent, as the firm cashed in on major client wins.
Speaking of the infamous audit delay that has plagued headlines, Executive Chairman Sorrell commented that it was “unacceptable and embarrassing and significant changes in our financial control, risk and governance structure and resources are being implemented and planned”.
Nonetheless, he praised the group’s immense growth, and affirmed S4’s plans to achieve its 202 objective of boasting twenty clients each generating revenues of over $20m per annum in the next two years.
The ad tycoon and former WPP chief said that S4 would continue its focus in tech, exploring areas such as the metaverse, NFTs and crypto.
Shares are up nearly five per cent this morning as investor anxiety dwindles.